Logix Federal Credit Union has the Platinum Rewards let’s take a look in a little more detail.
Card Basics
- Sign up bonus of 10,000 points after $1,000 in spend within the first 90 days
- Card earns up to 3x points per $1 spent on all purchases
- 3x on all purchases for platinum members (requires 100k in combined checking, deposit and loan balances with Logix)
- 2x on all purchases for gold members
- 1.5x on all purchases for regular members
- Free membership available in AZ, CA, MA, MD, ME, NH, NV, or VA
How Much Are Points Worth?
Points are worth 1¢ each according to this.
Our Verdict
Main issue with this is the fact you need to have $100,000 on deposit with Logix (although this includes loan balances so holding a mortgage would count). The money market account earns 0.6% APY with this amount, that isn’t awful but it’s not good compared to other high yield accounts either. There is also a $150 checking promotion for those in CA.
Hat tip to Econ0mist
